Savvy Wealth raises $100M Series C to consolidate wealth management on one AI platform
Thrive Capital and Index Ventures join Halo Fund in a round that doubles the New York company's total funding to $200M.
Savvy Wealth has raised $100 million in a Series C from Halo Fund, Thrive Capital, Index Ventures and others, bringing the New York company's total raised to $200 million. The platform consolidates wealth management operations for financial advisors.
The unbundling that became a rebundling
Independent financial advisors have historically run on an assembled stack: a custodian, a portfolio management system, a CRM, a financial planning tool, a compliance archive, and a reporting layer, mostly from different vendors and mostly integrated badly.
The pitch for consolidating that has existed for two decades. What has changed is that a meaningful share of the work sitting between those systems - reconciling records, preparing review meetings, drafting client communications, compliance documentation - is now automatable in a way it was not before.
That is what makes the consolidation play viable now rather than in 2015. The integration is no longer the product; the work the integration enables is.
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